TORONTO, June 7, 2024
/CNW/ - Franklin Templeton Canada today announced that
investors approved the mergers of Franklin ActiveQuant Canadian
Fund into Franklin ClearBridge Canadian Equity Fund1 and
Franklin ActiveQuant U.S. Fund into Franklin U.S. Rising Dividends
Fund at special meetings held on May 31,
2024 and June 7, 2024.
The approved mergers will be implemented on a tax-deferred basis
after close of business on or around June
21, 2024.
Unitholders of series A, F, PA, PF and O units of Franklin
ActiveQuant Canadian Fund and series PA, PF and O units of Franklin
ActiveQuant U.S. Fund were entitled to have their votes tabulated
at the series level as well as the fund level because they will
receive units that have a higher combined fee than the units they
currently hold.
Due to investor approvals not being received, the following
non-approved series will be terminated after the close of business
today, June 7, 2024, to allow the
remaining series to be merged into the applicable series of the
applicable continuing fund:
- Franklin ActiveQuant Canadian Fund - Series F and Series
PA
- Franklin ActiveQuant U.S. Fund - Series PA
At the close of business today, June 7,
2024, any investors that hold the non-approved series in
registered accounts will have their investments switched into
Franklin Canadian Money Market Fund2 without tax
consequences. For all other accounts, the units will be
redeemed for any non-approved series at the series net asset value
per unit and Franklin Templeton
Canada will send the proceeds to the investor or their
dealer. Investors will not be required to pay any redemption fees,
sales charges or other fees associated with the termination of the
non-approved series. All costs and expenses associated with the
termination of the non-approved series will be borne by
Franklin Templeton Canada.
Impacted investors that prefer to switch into another
Franklin Templeton fund or redeem
their investments ahead of June 21,
2024, are advised to work with their investment advisor to
submit their instructions on or before June
20, 2024. Franklin
Templeton's client services team is also available to assist
at 1-800-387-0830 or at service@franklintempleton.ca.
About Franklin Templeton
Franklin Resources, Inc. [NYSE:BEN] is a global investment
management organization with subsidiaries operating
as Franklin Templeton and serving clients in over 150
countries. In Canada, the company's subsidiary is Franklin
Templeton Investments Corp., which operates as Franklin
Templeton Canada. Franklin Templeton's mission is to help
clients achieve better outcomes through investment management
expertise, wealth management and technology solutions. Through its
specialist investment managers, the company offers specialization
on a global scale, bringing extensive capabilities in fixed income,
equity, alternatives and multi-asset solutions. With more than
1,500 investment professionals, and offices in major financial
markets around the world, the California-based company has
over 75 years of investment experience and over US$1.6
trillion (over CDN$2.2 trillion)
in assets under management as of April 30, 2024. For more
information, please visit franklintempleton.ca.
1 Formerly Franklin Bissett Canadian Equity Fund
2 Formerly Franklin Bissett Money Market Fund
Commissions, trailing commissions, management fees, brokerage
fees and expenses may be associated with investments in mutual
funds and ETFs. Please read the prospectus and fund facts/ETF facts
document before investing. Mutual funds and ETFs are not
guaranteed. Their values change frequently. Past performance may
not be repeated.
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reserved.
SOURCE Franklin Templeton Investments Corp.